US EditionHow the Government Shutdown Disrupts Critical Economic Data
Shutdown halts key jobs data releases crucial for Federal Reserve decisions as officials turn to private economic indicators to assess market conditions, Chicago Fed said.
- The US government entered a partial shutdown at 12:01 a.m. ET on Wednesday after the Senate rejected a short-term spending bill.
- The House of Representatives had passed a continuing resolution, but the US Senate stalled as Democrats pushed to continue healthcare subsidies, leaving the impasse unresolved.
- Markets reacted as the US dollar sank to a one-week low and the dollar index slipped 0.2%, while the Chicago Fed said `Just recently, the Chicago Fed introduced the labor market indicators and what one of those is takes 11 different data sources, some of which are the official data but many of which are private sector and makes a real-time forecast of what the next unemployment rate would be`, Goolsbee said.
- With the Fed meeting on Oct. 29, the shutdown's duration matters for policy makers, as experts warned a prolonged shutdown could leave Fed officials ill-equipped to set the best policy.
- The Bank of Thailand reported calm markets and monitoring after the US shutdown; safe-haven flows lifted low-yielding currencies and US Treasuries, while traders price a quarter-point Fed cut near certain at around 95% with roughly 40% chance BOJ raises rates this month.
42 Articles
42 Articles
U.S. Job Market Stalled Amid Government Shutdown
U.S. Job Market Stalled Amid Government Shutdown The U.S. job market faces a standstill, as alternate data sources substitute for official reports delayed by a federal government shutdown. While the unemployment rate stays at 4.3%, sluggish hiring underscores potential interest rate cuts by the Federal Reserve.Recent private sector data reveals ongoing challenges, with small businesses shedding jobs significantly in September. The decline, along…
How the government shutdown disrupts critical economic data
If the shutdown is short-lived, it won’t be very disruptive. But if the release of economic data is delayed for several weeks or longer, it could pose challenges, particularly for the Federal Reserve.
Vital economic data, including Friday's jobs report, cut off in government shutdown
The government shutdown that began Wednesday will deprive policymakers and investors of economic data vital to their decision-making at a time of unusual uncertainty about the direction of the U.S. economy.
How the government shutdown will keep crucial data from investors and policymakers
The government shutdown that began Wednesday will deprive policymakers and investors of economic data vital to their decision-making at a time of unusual uncertainty about the direction of the U.S. economy.The absence will be felt almost immediately, as the government’s monthly jobs report scheduled for release Friday will likely be delayed. A weekly report on the number of Americans seeking unemployment benefits — a proxy for layoffs that is ty…
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